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How much can I borrow?
Estimate the loan your budget can support using the 40% total-debt-service guideline.
Room for a new loan payment
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Estimated max loan amount
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Your existing debt payments already reach the 40% debt-service guideline, so this rule leaves no room for a new loan payment. Reducing existing debt would free up capacity.
This is a guideline based on a 40% debt-service ratio. Actual criteria vary from one lender to another.
Estimates are illustrative only — real terms vary by lender.
Frequently asked questions
How is my borrowing power calculated?+
We apply the 40% total-debt-service guideline: your monthly debt payments (existing + new loan) should not exceed 40% of your gross monthly income. The remaining room is used to estimate the maximum loan based on your rate and term.
Why 40% of my income?+
The 40% threshold is a common, conservative benchmark for assessing repayment capacity. Some lenders allow a higher ratio, others are stricter — treat it as a starting point, not a guarantee.
Is this amount guaranteed by a lender?+
No. It is an illustrative estimate. The real amount depends on your credit file, verified income, other obligations and each lender’s policy.
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